Large-scale Urbanization to Boost the Global Swimming Pool Market Through 2021, Reports Technavio

Technavio has published a new report on the global swimming pool market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio market research analysts forecast the global swimming pool market to grow at a CAGR of close to 4% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global swimming pool market for 2017-2021. The report also lists motor pumps, filters, pool ladders, and overflow gratings as the four major segments based on equipment type. In 2016, the motor pump segment held the largest share of the global swimming pool market by equipment type, accounting for a revenue share of close to 42%.

According to Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research, “The global swimming pool market is heavily influenced by the real estate industry, which is experiencing exponential growth, due to various factors such as an increase in urbanization and increased spending capability of individuals.”

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Technavio media and entertainment analysts highlight the following three market drivers that are contributing to the growth of the global swimming pool market:

  • Large-scale urbanization
  • Increase in hotel construction
  • Swimming for fitness

Large-scale urbanization

The global economic growth has resulted in large-scale urbanization. According to the UN estimates, as of 2016, 55% of the world's population resides in urban areas, which is likely to increase to more than 62% by 2021. Around 90% of the global urban population is from APAC and Africa.

With the rise in urbanization, there will be an increased demand for residential infrastructures. This is expected to support the growth of the swimming pool market during the forecast period.

Increase in hotel construction

The number of international travelers reached 1.2 billion in 2016, and it is expected to increase by more than 2% during the forecast period. The construction of new hotels has become the main focus of the growing tourism industry. This has resulted in the construction of many hotels that offer facilities, such as sports centers, spa pools, and swimming pools. Moreover, several resorts are offering rooms with private pools. This is attracting tourists to opt for such accommodation, which is supporting the growth of the market.

Swimming for fitness

People are increasingly becoming conscious about their fitness and health. The increase in motivation among the population to regularly exercise and maintain their fitness is positively influencing the growth of the global swimming pool market. Many individuals are choosing swimming for fitness as it is one of the best and most effective workouts. Apart from managing weight, swimming helps in regulating stress, builds endurance, improves muscle strength, and lowers the risk of diseases.

“Apart from apartments and personal pools, there are various clubs that offer sports facilities, such as swimming pools and gym, on a paid basis. The popularity of these facilities augurs well for the growth of the swimming pool market,” says Ujjwal.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio market research analysts forecast the global swimming pool market to grow at a CAGR of close to 4% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com